Gulf Energy pays GH¢409million in statutory taxes to govt

Between January 2020 and April 2021, Gulf Energy Ghana Limited paid a total of GH¢409 million in statutory taxes to government through the Ghana Revenue Authority.

This was revealed by the Executive Chairman of Gulf Energy, Richard K. Atikpo, who is also a Member of the Council of State representing the Oti Region.

Mr Atikpo’s portfolio also includes Lemla Petroleum and Legon Cities Football Club.

According to Mr Atikpo, Gulf Energy is committed to supporting the efforts of government in transforming the economy especially in the area of job creation and it is very important that businesses that benefit from the Ghanaian space do more in helping government achieve its developmental commitments by paying their taxes.

“One of the biggest challenges of any government the world over is the raising of capital for all kinds of developmental purposes. Now if the environment is great for a business to thrive, it is only fair that businesses that are doing well support governments efforts at raising capital from several sources including our taxes.

“At Gulf Energy, we have contributed significantly to governments kitty over the years and we believe that if all corporate entities do more in the payment of their taxes, which is a statutory obligation, government would be in the position to provide the much needed infrastructure and other support services that can positively impact the economy.”

He added that though the oil industry has had its challenges over the years with pricing and geopolitical issues, the industry in Ghana was competing on a strong footing and would confidently see a transformation over time following government’s efforts to improving the sector.

Mr Atikpo was recently honoured by the Association of Oil Marketing Companies Executive Revellers for his outstanding contributions to the sector and being one of the top 10 petroleum industry giants of 2020.

He is also known for his corporate social responsibilities which include helping fund the construction of a 50-bed facility at the Battle Training Camp for the Ghana Armed Forces Training Base at Bundase, a suburb of Accra, supporting governments efforts at curbing the dreaded COVID-19 by providing items including Personal Protective Equipment (PPE), disposable bed sheets rolls, Video Laryngoscopes, Dissecting Forceps, bedsteads, bedside Desks, carrier stretchers, examination beds, wheelchairs, food trolleys, metro shelving, suction machines and more worth Millions of Euros and also donating items worth Millions of Cedis to various orphanages, groups and individuals to support them in diverse ways.

Gulf Energy was established to engage in the supply of petroleum products to the local market as well as to other countries in the sub region.

Over the years, Gulf Energy has built its capacity and is the preferred choice to supply petroleum products delivering up to 30,000mt of Gasoil and 25,000mt of Gasoline monthly in Ghana through its related companies.